State Board of Administration of Florida Retirement System Sells 11,427 Shares of Expeditors International of Washington (EXPD)

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State Board of Administration of Florida Retirement System lessened its position in shares of Expeditors International of Washington (NASDAQ:EXPD) by 4.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 267,834 shares of the transportation company’s stock after selling 11,427 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Expeditors International of Washington were worth $19,694,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Tyers Asset Management LLC boosted its stake in Expeditors International of Washington by 91.0% in the 2nd quarter. Tyers Asset Management LLC now owns 18,976 shares of the transportation company’s stock valued at $1,387,000 after buying an additional 9,040 shares in the last quarter. Boston Partners boosted its stake in Expeditors International of Washington by 9.6% in the 2nd quarter. Boston Partners now owns 53,899 shares of the transportation company’s stock valued at $3,940,000 after buying an additional 4,699 shares in the last quarter. Parallel Advisors LLC boosted its stake in Expeditors International of Washington by 70.7% in the 2nd quarter. Parallel Advisors LLC now owns 2,332 shares of the transportation company’s stock valued at $170,000 after buying an additional 966 shares in the last quarter. SG Americas Securities LLC boosted its stake in Expeditors International of Washington by 102.4% in the 2nd quarter. SG Americas Securities LLC now owns 22,137 shares of the transportation company’s stock valued at $1,618,000 after buying an additional 11,198 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Expeditors International of Washington by 6.7% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 35,174 shares of the transportation company’s stock valued at $2,571,000 after buying an additional 2,201 shares in the last quarter. 93.96% of the stock is currently owned by institutional investors.

Several equities analysts have issued reports on EXPD shares. Stifel Nicolaus set a $73.00 price objective on Expeditors International of Washington and gave the company a “hold” rating in a research report on Wednesday, August 8th. Zacks Investment Research downgraded Expeditors International of Washington from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. BidaskClub upgraded Expeditors International of Washington from a “sell” rating to a “hold” rating in a research report on Thursday. Credit Suisse Group cut their price objective on Expeditors International of Washington from $67.00 to $65.00 and set an “underperform” rating for the company in a research report on Wednesday, August 8th. Finally, Cowen reiterated a “market perform” rating and issued a $73.00 price objective (up previously from $70.00) on shares of Expeditors International of Washington in a research report on Tuesday, August 7th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Expeditors International of Washington has an average rating of “Hold” and an average target price of $67.50.

Shares of EXPD opened at $71.73 on Friday. Expeditors International of Washington has a 52-week low of $58.66 and a 52-week high of $78.16. The firm has a market capitalization of $12.79 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 2.90 and a beta of 0.74.

Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings data on Tuesday, November 6th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.14. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.03 billion. Expeditors International of Washington had a return on equity of 28.98% and a net margin of 7.76%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. On average, equities research analysts expect that Expeditors International of Washington will post 3.22 earnings per share for the current year.

The company also recently announced a semiannual dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be given a dividend of $0.45 per share. The ex-dividend date is Friday, November 30th. This represents a dividend yield of 1.23%. This is an increase from Expeditors International of Washington’s previous semiannual dividend of $0.42. Expeditors International of Washington’s payout ratio is presently 36.29%.

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About Expeditors International of Washington

Expeditors International of Washington, Inc provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, such as ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, cargo insurance, cargo monitoring and tracking, and other logistics solutions.

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Institutional Ownership by Quarter for Expeditors International of Washington (NASDAQ:EXPD)

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